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The Effect Of Globalization On Wages In The Advanced Economies
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Book Synopsis The Effect of Globalization on Wages in the Advanced Economies by : Mr.Phillip Swagel
Download or read book The Effect of Globalization on Wages in the Advanced Economies written by Mr.Phillip Swagel and published by International Monetary Fund. This book was released on 1997-04-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of globalization on labor markets in the advanced economies, focusing particularly on the claim that increased economic integration has widened the gap between the wages of more skilled and less skilled workers. The broad consensus of research is that globalization, both in terms of increased trade as well as increased capital mobility and foreign direct investment, has had only a modest effect on wages. Instead, changes in technology have led to a pervasive shift in demand for labor that has favored skilled workers to the detriment of less skilled workers.
Book Synopsis The Effect of Globalization on Wages in the Advanced Economies by : Phillip Swagel
Download or read book The Effect of Globalization on Wages in the Advanced Economies written by Phillip Swagel and published by . This book was released on 2006 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of globalization on labor markets in the advanced economies, focusing particularly on the claim that increased economic integration has widened the gap between the wages of more skilled and less skilled workers. The broad consensus of research is that globalization, both in terms of increased trade as well as increased capital mobility and foreign direct investment, has had only a modest effect on wages. Instead, changes in technology have led to a pervasive shift in demand for labor that has favored skilled workers to the detriment of less skilled workers.
Book Synopsis Globalization and Poverty by : Ann Harrison
Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Book Synopsis Does Globalization Lower Wages and Export Jobs? by : Mr.Matthew J. Slaughter
Download or read book Does Globalization Lower Wages and Export Jobs? written by Mr.Matthew J. Slaughter and published by . This book was released on 1997-09-29 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no doubt that globalization has coincided with higher unemployment among the less skilled and with widening income inequality. But did it cause these phenomena, as many claim, or should we look to other factors, such as advances in technology?
Book Synopsis Effects of Globalization on Labor's Share in National Income by : Anastasia Guscina
Download or read book Effects of Globalization on Labor's Share in National Income written by Anastasia Guscina and published by International Monetary Fund. This book was released on 2006-12 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past two decades have seen a decline in labor's share of national income in several industrial countries. This paper analyzes the role of three factors in explaining movements in labor's share--factor-biased technological progress, openness to trade, and changes in employment protection--using a panel of 18 industrial countries over 1960-2000. Since most studies suggest that globalization and rapid technological progress (associated with accelerated information technology development) began in the mid-1980s, the sample is split in 1985 into preglobalization/pre-IT revolution and postglobalization/post-IT revolution eras. The results suggest that the decline in labor's share during the past few decades in the OECD member countries may have been largely an equilibrium, rather than a cyclical, phenomenon, as the distribution of national income between labor and capital adjusted to capital-augmenting technological progress and a more globalized world economy.
Book Synopsis Globalization and Egalitarian Redistribution by : Pranab K. Bardhan
Download or read book Globalization and Egalitarian Redistribution written by Pranab K. Bardhan and published by Princeton University Press. This book was released on 2006 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrates that the free flow of goods, capital, and labor has increased the inequality or volatility of labor earnings in advanced industrial societies, while constraining governments' ability to tax the winners to compensate the workers for their loss. This book looks at how globalization affects policies aimed at reducing inequalities.
Book Synopsis Labor Markets in the Global Economy by : Erich Gundlach
Download or read book Labor Markets in the Global Economy written by Erich Gundlach and published by . This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strikingly different labor market performance of major industrial countries suggests that neither globalization nor skill-biased technological change necessarily result in rising unemployment or declining wages of low-skilled workers. Rather, globalization and technological change cause labor market problems in those economies that fail to adjust sectoral production structures in accordance with their comparative advantages. Labor market outcomes in Germany - especially when compared with the United States - suggest that high unemployment is the price for insufficient wage flexibility. However, the experience of Japan and the United Kingdom points to missing links in the debate on labor market effects of globalization and skill-biased technological change. In Japan, both unemployment and wage disparities remained low. The contrasting experience is provided by the United Kingdom, where the rising wage gap did not prevent high unemployment of low-skilled workers. All major industrial countries have been confronted with fiercer import competition and outsourcing in low-skill labor-intensive industries. But the response to this common challenge has different remarkably. Japan has outperformed its major competitors in restructuring manufacturing employment towards more sophisticated lines of production, and in achieving an appropriate pattern of trade specialization. Hence, structural change is the key to avoid labor market problems in the era of globalization. Different labor market outcomes are closely related to differences in the rate of factor accumulation, which comprises physical, human and technological capital. Especially industrial countries currently plagued with high unemployment have little choice but to forego consumption today in order to improve future real incomes and employment opportunities of lowskilled workers. Thus, successful structural change does not come for free.
Book Synopsis Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence by : Mai Chi Dao
Download or read book Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence written by Mai Chi Dao and published by International Monetary Fund. This book was released on 2017-07-25 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the downward trend in the labor share of global income since the early 1990s, as well as its heterogeneous evolution across countries, industries and worker skill groups, using a newly assembled dataset, and analyzes the drivers behind it. Technological progress, along with varying exposure to routine occupations, explains about half the overall decline in advanced economies, with a larger negative impact on middle-skilled workers. In emerging markets, the labor share evolution is explained predominantly by global integration, particularly the expansion of global value chains that contributed to raising the overall capital intensity in production.
Book Synopsis Preparing Chemists and Chemical Engineers for a Globally Oriented Workforce by : National Research Council
Download or read book Preparing Chemists and Chemical Engineers for a Globally Oriented Workforce written by National Research Council and published by National Academies Press. This book was released on 2004-09-02 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalizationâ€"the flow of people, goods, services, capital, and technology across international bordersâ€"is significantly impacting the chemistry and chemical engineering professions. Chemical companies are seeking new ideas, a trained workforce, and new market opportunities regardless of geographic location. During an October 2003 workshop, leaders in chemistry and chemical engineering from industry, academia, government, and private funding organizations explored the implications of an increasingly global research environment for the chemistry and chemical engineering workforce. The workshop presentations described deficiencies in the current educational system and the need to create and sustain a globally aware workforce in the near future. The goal of the workshop was to inform the Chemical Sciences Roundtable, which provides a science-oriented, apolitical forum for leaders in the chemical sciences to discuss chemically related issues affecting government, industry, and universities.
Book Synopsis Globalization and Labor Conditions by : Robert J. Flanagan
Download or read book Globalization and Labor Conditions written by Robert J. Flanagan and published by Oxford University Press. This book was released on 2006-07-20 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains how three major mechanisms of globalization international trade, international migration, and the activities of multinational companies have altered working conditions and labor rights around the world during the late 20th century. Drawing on analyses of a database on international labor conditions assembled for this project and a growing research literature on globalization and labor conditions, the book finds that trade, migration, and multinational companies are associated with improvements in world labor conditions.
Book Synopsis Towards a Better Global Economy by : Franklin Allen
Download or read book Towards a Better Global Economy written by Franklin Allen and published by OUP Oxford. This book was released on 2014-09-04 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Substantial progress in the fight against extreme poverty was made in the last two decades. But the slowdown in global economic growth and significant increases in income inequality in many developed and developing countries raise serious concerns about the continuation of this trend into the 21st century. The time has come to seriously think about how improvements in official global governance, coupled with and reinforced by rising activism of 'global citizens' can lead to welfare-enhancing and more equitable results for global citizens through better national and international policies. This book examines the factors that are most likely to facilitate the process of beneficial economic growth in low-, middle-, and high-income countries. It examines past, present, and future economic growth; demographic changes; the hyperglobalization of trade; the effect of finance on growth; climate change and resource depletion; and the sense of global citizenship and the need for global governance in order to draw longer-term implications, identify policy options for improving the lives of average citizens around the world, and make the case for the need to confront new challenges with truly global policy responses. The book documents how demographic changes, convergence, and competition are likely to bring about massive shifts in the sectoral and geographical composition of global output and employment, as the center of gravity of the global economy moves toward Asia and emerging economies elsewhere. It shows that the legacies of the 2008-09 crisis-high unemployment levels, massive excess capacities, and high debt levels-are likely to reduce the standard of living of millions of people in many countries over a long period of adjustment and that fluctuations in international trade, financial markets, and commodity prices, as well as the tendency of institutions at both the national and international level to favor the interests of the better-off and more powerful pose substantial risks for citizens of all countries. The chapters and their policy implications are intended to stimulate public interest and facilitate the exchange of ideas and policy dialogue.
Book Synopsis Globalization and Unemployment by : Helmut M. Wagner
Download or read book Globalization and Unemployment written by Helmut M. Wagner and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization and unemployment are two phenomena which are amongst the most widely discussed subjects in the economic debate today. Often, globalization is regarded as being responsible for the increase in unemployment, particularly in unskilled labor. This book deals with the correlation between globalization and unemployment under various aspects: historical aspects of globalization, empirical trends and theoretical explanations of unemployment, effects of globalization in general and of European Monetary Union in particular on umemployment, labor market policy in a global economy, the impact of fiscal policy on unemployment in a global economy, as well as the effects of globalization on inflation and national stabilization policy.
Author : Tomas Hellebrandt Publisher :Peterson Institute for International Economics ISBN 13 :0881327085 Total Pages :48 pages Book Rating :4.8/5 (813 download)
Book Synopsis Raising Lower-Level Wages by : Tomas Hellebrandt
Download or read book Raising Lower-Level Wages written by Tomas Hellebrandt and published by Peterson Institute for International Economics. This book was released on 2015-04-06 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the United States emerges from the Great Recession, concern is rising nationally over the issues of income inequality, stagnation of workers' wages, and especially the struggles of lower-skilled workers at the -bottom end of the wage scale. While Washington deliberates legislation raising the minimum wage, a number of major American employers—for example, Aetna and Walmart—have begun to voluntarily raise the pay of their own lowest-paid employees. In this collection of essays, economists from the Peterson Institute for International Economics analyze the potential benefits and costs of widespread wage increases, if adopted by a range of US private employers. They make this assessment for the workers, the companies, and for the US economy as a whole, including such an initiative's effects on national competitiveness. These economists conclude that raising the pay of many of the lowest-paid US private-sector workers would not only reduce income inequality but also boost overall productivity growth, with likely minimal effect on employment in the current financial context. "It is possible to profit from paying your employees well…and increasing lower-paid workers' wages is the way forward for the United States," argues Adam S. Posen in his lead essay (reprinted from theFinancial Times). Justin Wolfers and Jan Zilinsky argue that higher wages can encourage low-paid workers to be more productive and loyal to their employers and coworkers, reducing costly job turnover and the need for supervision and training of new workers. Tomas Hellebrandt estimates that if all large private sector corporations in the United States outside of sectors that intensively use low-skilled labor increased wages of their low-paid workers to $16 per hour, the pay of 6.2 percent of the $110 million private-sector workers in the United States would increase on average by 38.6 percent. The direct cost to employers would be $51 billion, only around 0.3 percent of GDP. Jacob Kirkegaard and Tyler Moran explore the experience of employers in other advanced countries, with its implications for international competitiveness, and Michael Jarand assesses the impact of a wage increase on the near-term development of the US macroeconomy. Data disclosure: The data underlying the figures in this analysis are available for download in links listed below.
Book Synopsis Globalisation and Labour Market Adjustment by : D. Greenaway
Download or read book Globalisation and Labour Market Adjustment written by D. Greenaway and published by Springer. This book was released on 2008-04-17 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although economists have long pointed to the aggregate gains from increased economic integration, the popular perception of globalization is much more pessimistic. Workers feel less secure in their jobs and fear wage losses and unemployment. This book explores these issues, and asks whether the concerns are warranted.
Book Synopsis Jobs and Incomes in a Globalizing World by : Ajit Kumar Ghose
Download or read book Jobs and Incomes in a Globalizing World written by Ajit Kumar Ghose and published by International Labour Organization. This book was released on 2003 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work offers fresh analysis of the nature of globalisation and its consequences for the international division of labour, global economic inequality and the phenomenon of brain drain from developing countries. Presenting results of new research, it offers a current assessment of the labour market effects of trade liberalisation - the core of globalisation - in industrialised and developing countries
Book Synopsis More Slack than Meets the Eye? Recent Wage Dynamics in Advanced Economies by : Mr.Gee Hee Hong
Download or read book More Slack than Meets the Eye? Recent Wage Dynamics in Advanced Economies written by Mr.Gee Hee Hong and published by International Monetary Fund. This book was released on 2018-03-09 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nominal wage growth in most advanced economies remains markedly lower than it was before the Great Recession of 2008–09. This paper finds that the bulk of the wage slowdown is accounted for by labor market slack, inflation expectations, and trend productivity growth. In particular, there appears to be greater slack than meets the eye. Involuntary part-time employment appears to have weakened wage growth even in economies where headline unemployment rates are now at, or below, their averages in the years leading up to the recession.
Book Synopsis The Exposure to Routinization: Labor Market Implications for Developed and Developing Economies by : Ms.Mitali Das
Download or read book The Exposure to Routinization: Labor Market Implications for Developed and Developing Economies written by Ms.Mitali Das and published by International Monetary Fund. This book was released on 2018-06-13 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evidence that the automation of routine tasks has contributed to the polarization of labor markets has been documented for many developed economies, but little is known about its incidence in developing economies. We propose a measure of the exposure to routinization—that is, the risk of the displacement of labor by information technology—and assemble several facts that link the exposure to routinization with the prospects of polarization. Drawing on exposures for about 85 countries since 1990, we establish that: (1) developing economies are significantly less exposed to routinization than their developed counterparts; (2) the initial exposure to routinization is a strong predictor of the long-run exposure; and (3) among countries with high initial exposures to routinization, polarization dynamics have been strong and subsequent exposures have fallen; while among those with low initial exposure, the globalization of trade and structural transformation have prevailed and routine exposures have risen. Although we find little evidence of polarization in developing countries thus far, with rapidly rising exposures to routinization, the risks of future labor market polarization have escalated with potentially significant consequences for productivity, growth and distribution.
